Great for colored pencils. May need to finish the tip with sandpaper but I haven't found a better sharpener for waxy drawing materials. Sharpen graphite now and then to lubricate. If tip gets caught in rotary mechanism, you can shake it out pretty easily.
They are especially nice with the Koh-I-Noor Progresso woodless pencils, sharpening them to a nice long point.
One of the most popular sharpeners among students and teachers at Art Center College of Design.